On September 27, 2017, the White House and a group of congressional leaders, commonly referred to as the “Big Six”, released a joint framework for proposed tax reform. The framework sets out five goals: middle-class tax relief, simplifying tax returns for most Americans, business tax relief, ending incentives to shift jobs and capital overseas, and broadening the tax base to provide greater fairness. In addition to the specific proposals it sets forth, the framework encourages Congress to consider reforms that “improve the efficiency and effectiveness of tax laws.” Read the full alert.
On April 26, 2017, the Trump Administration announced several high-level goals and proposals for individual and corporate tax reform, the details of which the White House expects to develop through discussions with Congress and taxpayers. Read more about the proposals in the Ropes & Gray client alert here.